Mitek Systems (NASDAQ:MITK) Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Mitek Systems (NASDAQ:MITK - Free Report) from a buy rating to a strong-buy rating in a research note released on Friday.

Several other research analysts have also recently weighed in on the company. Maxim Group increased their price objective on Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. HC Wainwright reiterated a "buy" rating and set a $13.00 price objective on shares of Mitek Systems in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $12.88.

Mitek Systems Stock Performance

MITK traded up $0.04 during trading hours on Friday, reaching $9.46. The company's stock had a trading volume of 253,152 shares, compared to its average volume of 561,885. Mitek Systems has a 52 week low of $6.93 and a 52 week high of $13.72. The company's 50-day moving average is $8.56 and its 200-day moving average is $9.39. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.59 and a current ratio of 4.59. The firm has a market cap of $428.01 million, a PE ratio of 105.11 and a beta of 1.11.

Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The software maker reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.10. The firm had revenue of $51.93 million for the quarter, compared to analysts' expectations of $47.21 million. Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. The business's revenue was up 10.4% compared to the same quarter last year. On average, equities analysts forecast that Mitek Systems will post 0.59 EPS for the current year.

Institutional Trading of Mitek Systems

Several large investors have recently modified their holdings of the stock. Rhumbline Advisers grew its holdings in shares of Mitek Systems by 3.8% during the 1st quarter. Rhumbline Advisers now owns 65,999 shares of the software maker's stock worth $544,000 after purchasing an additional 2,396 shares in the last quarter. Petrus Trust Company LTA boosted its stake in Mitek Systems by 69.3% in the first quarter. Petrus Trust Company LTA now owns 26,510 shares of the software maker's stock valued at $219,000 after buying an additional 10,853 shares in the last quarter. AQR Capital Management LLC boosted its stake in Mitek Systems by 138.3% in the first quarter. AQR Capital Management LLC now owns 111,967 shares of the software maker's stock valued at $924,000 after buying an additional 64,980 shares in the last quarter. Graham Capital Management L.P. boosted its stake in Mitek Systems by 72.5% in the first quarter. Graham Capital Management L.P. now owns 103,089 shares of the software maker's stock valued at $850,000 after buying an additional 43,312 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in Mitek Systems in the first quarter valued at about $385,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Mitek Systems Company Profile

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.